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WORLD NEWS
March 20th, 2014 4:52 PM
With the recent Crimea territory take over in Ukraine by Russia there is uncertainty in the air. On the surface people think, well it's pretty far away so it doesn't affect me. But, with the US & EU issuing economic sanctions against Russia over this it could affect % rates way back in the US and of course locally in CA. The reason it that Russia has lots of money in US Treasury bills. If they counter the recent sanctions by the US & EU by selling off their US treasuries then % rates could rise for borrowers looking to purchase a home. This would then hurt buyers in the market by raising the cost of borrowing which in turn raises monthly payments, affects purchase price capability, and if %s bumped high enough could push some buyers out of the market. Time will tell how this land takeover will play out and if it will affect the local real estate market.

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Posted by Reginald Jackson on March 20th, 2014 4:52 PMPost a Comment

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